Guideline Value for Basin Road

Basin Road guideline value

The current guideline value of Basin Road in Satthankadu village, under the Thiruvottiyur SRO, is Rs 2,200 per sq.ft, effective from 1 July 2024. The land classification for this area is Commercial Class I Type - III.

How the guideline value of Basin Road has changed

The guideline value for Basin Road has undergone several revisions over the years. The earliest recorded guideline value was Rs 382 per sq.ft in 2002, which increased to Rs 442 per sq.ft in 2003. Following this, there was a significant rise to Rs 1,100 per sq.ft in 2007, and then to Rs 2,000 per sq.ft in 2012. However, the value decreased to Rs 1,340 per sq.ft in 2017 before climbing to Rs 2,000 per sq.ft in 2023. The most recent revision in 2024 set the guideline value at Rs 2,200 per sq.ft.

In terms of percentage changes, from 2002 to 2024, the overall increase is 476%. Between the 2017 and 2023 revisions, the value rose by 49%, while the change from 2012 to 2017 saw a decrease of 33%. Notably, the jump from 2007 to 2012 was 82%, and from 2003 to 2007, it was 149%. The change from 2002 to 2003 was 16%.

Guideline values in Satthankadu

In Satthankadu, there are 71 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 5,500 per sq.ft, with a median value of Rs 3,400 per sq.ft. Basin Road's 2024 guideline value is below this median.

• Balakrishna Naidu Colony: Rs 3,400 per sq.ft (2024)
• Chairman Varadharajapuram: Rs 3,400 per sq.ft (2024)
• Ayyapillai Thotta Street: Rs 3,400 per sq.ft (2024)
• Chetty Street: Rs 3,400 per sq.ft (2024)
• Chinna Mettu Palayam (Corner Plots): Rs 3,800 per sq.ft (2024)
• Chinna mettu palayam street: Rs 3,400 per sq.ft (2024)

Stamp duty and registration fee for property in Basin Road

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Basin Road?

The Sub Registrar Office that covers Basin Road is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Satthankadu

The guideline value is a crucial factor when buying or selling property in Satthankadu. It determines the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair value as per the government regulations.

When registering a property, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Basin Road?

The current guideline value of Basin Road is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 382 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, marking an overall increase of 476% over the years.

What is the land classification for Basin Road?

Basin Road is classified as Commercial Class I Type - III, indicating its suitability for commercial activities.

What are the stamp duty and registration fees for a property on Basin Road?

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Which office handles property registrations for Basin Road?

The Thiruvottiyur Sub Registrar Office handles property registrations for Basin Road, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.